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It's likely Chris Hayes is right and there's no future for journalism without public funding. Please read about @deanbaker13's proposal for "artistic freedom vouchers," a variant of which would be a great way to support journalism: niemanlab.org/2009/08/a-plan…
The great book "The Death and Life of American Journalism" points out that during early US history the federal government subsidized journalism —because it promotes self-government—with public funds equivalent to almost $40 billion/year today.
This is interesting by @derekthompson, but newspapers of the 1800s didn't exist because of party patronage. They existed because of huge government subsidies, equivalent to almost $40 billion/year now. We won't go back to the past without public funding. theatlantic.com/ideas/archive/… 
I strongly support philanthropists funding journalism, especially by me. But there's no way that will ever provide enough money. What we need is to remember that journalism used to be publicly subsidized in the US, and do it again.
Here's the section of "The Death and Life of American Journalism" which estimates that the federal government's journalistic subsidies in the 1800s were equivalent to about $30 billion/year in 2008, which would be almost $40/billion now. books.google.com/books?id=g85l-…
